India-Russia “Energy Bridge”

President of Russian Mr. Vladimir V. Putin and Prime Minister Narendra Modi met in Goa, during an official visit of the Russian President to India for the 17th India-Russia Annual Summit.

The Leaders reviewed the Special and Privileged Strategic Partnership between India and Russia that is rooted in longstanding mutual trust, characterized by unmatched reciprocal support to each other’s core interests and unique people-to-people affinities.

Both Sides noted with satisfaction that robust civil nuclear cooperation, collaboration in hydrocarbon sphere, long term LNG sourcing interest, work on the hydrocarbon energy pipeline and cooperation in renewable energy sector constitute a promising “Energy Bridge” between the two countries.

The Sides affirmed that their successful nuclear energy cooperation, which has already started generating electricity at the Kudankulam nuclear power plant, is one of the most tangible and substantive aspects of their strategic partnership.

The Sides reaffirm their intention to further expand cooperation under the “Strategic Vision to Strengthen Cooperation in the Peaceful Uses of Atomic Energy between the Russian Federation and the Republic of India” signed on December 11, 2014.

In this context they noted with satisfaction a series of positive developments marked in their civil nuclear cooperation this year, including attainment of full power capacity of Kudankulam Unit 1, integration with electricity grid of Kudankulam Unit 2, commencement of the site work for Kudankulam Units 3 and 4, and the progress in discussions on the General Framework Agreement and the Credit Protocol for Kudankulam Units 5 and 6 with a view to conclude these documents before the end of 2016.

Following the dedication of Kudankulam Unit-1 by Prime Minister Modi and President Putin on August 10, 2016, both leaders jointly dedicated Unit 2 of the Kudankulam Nuclear Power Plant to “India-Russia Friendship and Cooperation” and witnessed the laying of foundation concrete for Kudankulam Units 3 and 4 through video-links at a ceremony in Goa.

The Indian Side stated it is working towards early allocation of the second site for the construction of the Russian-designed NPP. Both Sides appreciated the progress being made in the implementation of the Programme of Action for Localization between Russia’s Rosatom and India’s Department of Atomic Energy with active engagement of Indian nuclear manufacturing industry for local manufacturing in India of equipment and components for upcoming and future Russian-designed nuclear power projects in the context of the serial construction in India of Russian-designed Units.

They noted with satisfaction continued senior official level interactions between their atomic energy establishments, including under the framework of the three Joint Working Groups on Nuclear Fuel, Science and Technology and Nuclear Power, and the Central Working Group on Localization set up during the last two Summits.

The Indian Side also congratulated the Russian Side for successfully hosting the ATOMEXPO in May 2016, which was attended by senior Indian officials and nuclear industry representatives from both public and private sectors of India.

The Leaders of both countries highly appreciated the progress made by Indian and Russian oil companies since the last Summit with the Indian companies acquiring equity in “Tass-Yuryakh Neftegazodobycha” and “Vankorneft” making it the largest equity oil acquisition hitherto by India. With the aim of further strengthening oil and gas cooperation the Russian Side expressed its interest in attracting Indian oil companies to participate in joint projects in the offshore-Arctic fields of the Russian Federation.

The two Sides supported a wider use of natural gas as an economically efficient and ecologically clean fuel to promote sustainable development as well as to reduce the greenhouse gas emissions in accordance with the Paris Agreement on climate change.

Both Sides reaffirmed their continued commitment to work together towards development of energy efficiency and renewable energy sources.

In this context, they expressed readiness to strengthen and expand bilateral cooperation in the field of solar energy under the MoU signed on 24 December, 2015 between the Russian Energy Agency of the Ministry of Energy of the Russian Federation and the Solar Energy Corporation of the Republic of India on building solar power-stations in India.

The Sides emphasized the need to provide assistance to the power sector companies of both countries in the development of cooperation in the sphere of modernization of existing power plants and construction of new power plants in India.